The Internal Revenue Service said Tuesday that lenders who make Paycheck Protection Program loans that are later forgiven under the CARES Act should not file information returns or furnish payee statements to report the forgiveness. | IRS says lenders don’t need to report PPP loan forgiveness | | By Michael Cohn 1 min read | | The Internal Revenue Service said Tuesday that lenders who make Paycheck Protection Program loans that are later forgiven under the CARES Act should not file information returns or furnish payee statements to report the forgiveness. | |
| IRS finalizes 100% bonus depreciation rules | | By Michael Cohn 2 min read | | The Internal Revenue Service and the Treasury Department issued the last set of final regulations to implement the 100 percent additional first-year depreciation deduction from the Tax Cuts and Jobs Act. | |
| Tax Fraud Blotter: Hard to trust | | By Jeff Stimpson 6 min read | | A Panama sentencing; ‘subcontractor’ mess; fun with funds; and other highlights of recent tax cases. | |
| 39 states lack the money to pay bills for COVID-19 | | By Michael Cohn 3 min read | | At least 39 states did not have enough money to pay all of their bills at the end of 2019, leaving them ill-prepared to shoulder the costs of the novel coronavirus pandemic, according to a new report. | |
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